AI, Memory Stocks Fall Despite ASML Demand Signal as Profit-Taking Hits Priciest Chip Names
Updated
Updated · Seeking Alpha · Jul 15
AI, Memory Stocks Fall Despite ASML Demand Signal as Profit-Taking Hits Priciest Chip Names
3 articles · Updated · Seeking Alpha · Jul 15
Summary
Wednesday trading knocked memory and AI-linked chip stocks lower, extending pressure on a sector that had rebounded a day earlier.
Profit-taking in the market's most expensive AI beneficiaries drove the pullback, blunting support from ASML's strong earnings and its upbeat demand commentary.
ASML's results suggested chip-equipment demand remains solid, but that positive read-through was not enough to keep investors in high-valuation semiconductor names.
The latest drop follows an earlier selloff in SK Hynix and Micron, whose shares were hit by fears that Chinese memory-chip competition could intensify.